Watson Island Project Nearing Completion?

Real Estate Blog Article

Monday, January 07, 2013
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Watson Island, man made island in Miami and current home to Jungle Island and The Miami Children’s Museum is potentially getting ready for a massive change. The Watson Island Project, which was first proposed by developers Flagstone in 2008, but the project had a number of impediments including the economy, permitting, and lawsuits, however it was recently announced that they may have reached nearly all the funding in place to begin this project, which has until September to begin construction. How would this project change the Miami Skyline?
The Watson Island Project would completely alter the urban landscape in Miami. The plan is nearly $640 million according to the Flagstone, and according to the website, it is $400 million. The land is rented from the city of Miami and also funded by equity shareholders. It will be comprised of an enormous marina, two hotels, fractional ownership residences, restaurants, and could potentially be connected by the light rail. In terms of the light rail connection, that is more speculation, however it would really be excellent as a unifier for Brickell and Miami Beach, as well as be a huge stimulus in terms of the local economy in Miami. We will keep you up to date on the progress of this project!
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